Nigeria, South Korea seek stronger trade, technology partnerships

By Favour Ulebor, Abuja Nigeria and South Korea have called for stronger bilateral cooperation in trade, investment, technology transfer, agriculture and skills development to promote economic growth and create opportunities for their citizens. The two countries renewed the call at a reception to mark South Korea’s National Day in Abuja on Friday, with both sides expressing commitment to expanding their longstanding diplomatic relations. Speaking at the event, South Korea’s Ambassador to Nigeria, Jeong Yoan, said the two countries, which established diplomatic relations in 1980, had opportunities to deepen economic cooperation through partnerships that support local businesses, entrepreneurship and human capital development. Jeong said South Korea was willing to share its development experience with Nigeria while respecting the country’s priorities and working with it as an equal partner.

He recalled that South Korea’s economy was devastated by the Korean War, with its annual per capita income below $100 in 1953, but said investment in education, hard work and international cooperation had helped the country rebuild. The ambassador said the experience demonstrated the importance of investing in people, developing local industries and sustaining partnerships that deliver long-term benefits. Highlighting ongoing cooperation, he said the Korea International Cooperation Agency (KOICA), in partnership with Nigeria’s Small and Medium Enterprises Development Agency (SMEDAN) and the United Nations Development Programme (UNDP), broke ground on an entrepreneurship centre in Abuja in September. According to him, the centre is expected to support young entrepreneurs and start-ups by helping them develop business ideas and build sustainable enterprises. He also said South Korea’s…